Goldman Sachs Research: Nvidia Corp. (NVDA) 2027 Outlook and Price Target Upgrade

Goldman Sachs reiterates its Buy rating on Nvidia Corp. (NVDA) and raises its 12-month price target to $300 from $285 following 2Q results that beat expectations. The firm highlights robust CY27 revenue growth guidance of 70% and gross margin visibility of 72%–73% as primary catalysts for continued stock outperformance.

Key Takeaways

• 1.Nvidia reported strong 2Q results beating consensus across revenue ($96.2bn vs. $92.4bn Street) and EPS ($2.22 vs. $2.09 Street), driven by robust Data Center demand ($89.0bn).
• 2.Management provided CY27 (FY28) revenue growth guidance of 70%—significantly above Street consensus of 44%—with unconstrained demand estimated to exceed 100%.
• 3.Medium-term gross margin guidance of 72%–73% for CY27 provides visibility despite HBM memory pricing pressure and the Rubin ramp, removing a key investor overhang.

Table of Contents

• Key stock takeaways
• Quarterly results were above the Street
• Increased datacenter revenue forecast, plus details of Rubin ramp
• 3Q revenue guidance is above the Street, with gross margins slightly below
• Read-through to our coverage
• Estimate changes
• Price target and risks
• Exhibit 1: NVDA – Variance summary
• Exhibit 2: NVDA – Guidance
• Exhibit 3: NVDA – Old vs. New Estimates (Calendar Year)
• Exhibit 4: NVDA – Price Target
• Disclosure Appendix
• Reg AC
• GS Factor Profile
• M&A Rank
• Quantum
• Disclosures
• Price target and rating history chart(s)
• Target price history table(s)
• Regulatory disclosures
• Ratings, coverage universe and related definitions
• Global product; distributing entities
• General disclosures

Report data

Exhibit 3: NVDA – Old vs. New Estimates (Calendar Year) — as of August 26, 2026.

Document Preview

Page 1 of 5

Subscribe for full accessCreate free account